Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
NCLAT held that bankruptcy proceedings against personal guarantors were a lawful consequence of an unchallenged order under Section 114(1) of the Insolvency and Bankruptcy Code. Once the repayment-plan stage had been exhausted and no viable plan was submitted, the Adjudicating Authority could proceed under Section 115(2) and Section 121 without issuing a fresh show-cause notice or hearing at the bankruptcy stage. Rule 37 of the NCLT Rules was treated as inapplicable to reopen a process already completed, and the appellants were bound by waiver and finality of the earlier adjudicatory order. The bankruptcy order was therefore upheld.
NCLAT held that bankruptcy proceedings against personal guarantors were a lawful consequence of an unchallenged order under Section 114(1) of the Insolvency and Bankruptcy Code. Once the repayment-plan stage had been exhausted and no viable plan was submitted, the Adjudicating Authority could proceed under Section 115(2) and Section 121 without issuing a fresh show-cause notice or hearing at the bankruptcy stage. Rule 37 of the NCLT Rules was treated as inapplicable to reopen a process already completed, and the appellants were bound by waiver and finality of the earlier adjudicatory order. The bankruptcy order was therefore upheld.
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